Einhorn: Caterpillar Inc. (CAT) Not All It's Cracked Up To Be

Posted - October 26 201701:01

Share:

Parsec Financial Management Inc. now owns 3,898 shares of the company's stock valued at $346,000 after buying an additional 23 shares during the period. ProShare Advisors LLC's holdings in Caterpillar were worth $13,974,000 at the end of the most recent reporting period.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. S. R. Schill & Associates lifted its position in Caterpillar by 0.3% during the 1st quarter. About 4.55 million shares traded or 47.25% up from the average. Similar statistics are true for the second largest owner, Vanguard Group Inc, which owns 41,225,175 shares of the stock are valued at $5.43 billion. Finally, Balyasny Asset Management LLC lifted its holdings in Caterpillar by 663.8% in the second quarter.

The earnings beat was even more remarkable as analysts had raised their third-quarter estimates by almost 30 percent in the past three months. Among active positions in the latest quarter, 514 holders increased their positions by a total of 30.55 million shares, 525 holders decreased the positions by a total of 34.55 million shares, and 210 holders held their positions. Motco now owns 989 shares of the industrial products company's stock valued at $106,000 after acquiring an additional 718 shares during the last quarter. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company's stock valued at $107,000 after acquiring an additional 900 shares during the last quarter. The firm's 50-day moving average is $94.40 and its 200 day moving average is $85.51. JP Morgan downgraded the shares of WBK in report on Thursday, August 11 to "Neutral" rating. (NYSE:CAT) hit a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report.

Excluding restructuring costs, Caterpillar earned $1.95 per share, compared with the average analyst estimate of $1.27 per shares, according to Thomson Reuters I/B/E/S. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The firm had revenue of $11.41 billion during the quarter, compared to analyst estimates of $10.69 billion. The business's revenue was up 24.6% on a year-over-year basis. During the same period a year ago, the business posted $0.75 earnings per share.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th.

Among 3 analysts covering Westpac Banking (NYSE:WBK), 2 have Buy rating, 0 Sell and 1 Hold. S&Co owns 2.03% invested in Caterpillar Inc. Deutsche Bank initiated it with "Buy" rating and $98 target in Wednesday, September 7 report. Vetr raised shares of Caterpillar from a "sell" rating to a "hold" rating and set a $90.02 target price on the stock in a report on Monday. UBS upgraded the shares of CAT in report on Monday, September 18 to "Buy" rating. Goldman Sachs Group, Inc. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have assigned a buy rating to the stock. Caterpillar presently has a consensus rating of "Hold" and an average price target of $80.78. If you are accessing this article on another domain, it was stolen and reposted in violation of global copyright & trademark law. "(CAT) Price Target Increased to $145.00 by Analysts at Stifel Nicolaus" was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal.

TRADEMARK VIOLATION WARNING: This piece of content was reported by Week Herald and is the property of of Week Herald. Also, Director William A. Osborn sold 5,000 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $93.52, for a total value of $88,844.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Related news

Odinga's supporters had also on Monday took to the street in the western city of Kisumu to protest against the re-run election. Kenyan police fired teargas and shots in the air to scatter a small number of demonstrators in Nairobi on Tuesday.

This programme may be for a ferry between Ghogha and Dahej but this programme is of vital importance for the entire nation. In the second phase, which is expected to be completed in two months, cars can also be carried between the two towns.

The film concluded with Sebastian from " The Little Mermaid " encouraging John to "Just ask the girl". This will be the second marriage for Stamos, who was married to Rebecca Romijn from 1998 until 2005.

Ball made his regular-season debut last night as the Lakers met their hometown rival Los Angeles Clippers in a 108-92 loss. In the span of 86 seconds Ball scored three times on drives to the rim, each move punctuated with a left-handed finish.

On Oct. 20, Comey posted a picture of what appeared to be him watching the sun peeking over the horizon in an Iowa cornfield. Comey, who is writing a book, tweeted on Friday that he was happy to be back in the Hawkeye State.

However, the estimated annual growth rate is below the 1.8 per cent achieved in 2016 and the slowest since 2012. The biggest contributor to growth in the third quarter was the service sector, which expanded by 0.4%.

Lingard, who scored either side of half-time, said the players had been keen to bounce back after what happened at Huddersfield. Manchester United is playing the Premier League as very good and the Swansea is playing very boring .

Although we are heartbroken, Pardon My Take will continue to get bigger and stronger every single day". In times like these, we remember what a great philosopher once said: Success isn't owned, it's leased.

They have joined together to raise money after devastating hurricanes in Texas, Florida, Puerto Rico and the U.S. The last time the five former presidents were together was in 2013 at the dedication of George W.

Top Stories

LeBron makes rare point in Cavs NBA win
The Bulls got out to a hot start thanks to their dynamic three-point shooting and led by as many as 14 in the first half. Bulls head coach Fred Hoiberg spoke to reporters with regards to LeBron starting at point guard in tonight's game.

Colin Kaepernick is shopping a book
Many people claim that this action is disrespectful to the flag and the troops who fight for the freedom of our citizens. Many teams have chose to link arms, take a knee or even stay in the locker room for the anthem.

Brother of Las Vegas shooter suspected of child porn possession
He now faces one count of possession of more than 600 images of child pornography and 19 counts of sexual exploitation of a child. After the attack, Bruce Paddock told NBC News he was questioned about the shooting twice by the Federal Bureau of Investigation .

Cooler temperatures on the way Sunday
Highs will vary with low 70s for areas along I-55 to a few folks in West Alabama making it into the upper 70s and even low 80s. It's much chillier Monday with lows in the 30s and highs staying in the 50s, under plenty of cloud cover limiting sunshine.

Taika Waititi would never do Star Wars movie
Would he be willing to tell a story in a Galaxy Far, Far Away? Thor: Ragnarok is set to release in theaters on November 2, 2017. Early reviews have made it clear that Thompson's Valkyrie stands out as a highlight in the film thanks to her strong character.

Supreme Court refuses to recall order on National Anthem
It said that it would instill a sense of patriotism if people stood up when the National Anthem was being played at cinemas. The court had made it mandatory for all those in the cinemas to stand up as a sign of respect when the anthem is played.